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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income (loss) $ 179 $ 363
Non-cash adjustments:    
Depreciation and amortization 654 461
Loss on assets held for sale (Note 5) 485 0
Net (income) loss from discontinued operations (4) (12)
Reclamation and remediation 94 61
Deferred income taxes 53 15
Change in fair value of investments (Note 9) (31) (41)
Other non-cash adjustments 12 (4)
Net change in operating assets and liabilities (Note 19) (666) (362)
Net cash provided by (used in) operating activities of continuing operations 776 481 CloseClose
Investing activities:    
Additions to property, plant and mine development  (850) (526)
Proceeds from asset and investment sales 35 181
Return of investment from equity method investees 25 0
Purchases of investments (23) (525)
Contributions to equity method investees (15) (41)
Proceeds from maturities of investments 0 557
Other  30 12
Net cash provided by (used in) investing activities  (798) (342) CloseClose
Financing activities:    
Proceeds from issuance of debt, net 3,476 0
Repayment of debt (3,423) 0
Dividends paid to common stockholders (288) (318)
Distributions to noncontrolling interests (41) (34)
Funding from noncontrolling interests 22 41
Payments on lease and other financing obligations (18) (16)
Payments for withholding of employee taxes related to stock-based compensation (10) (22)
Other (17) (1)
Net cash provided by (used in) financing activities (299) (350) CloseClose
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) (8) CloseClose
Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale (324) (219)
Less: cash and restricted cash reclassified to assets held for sale [1] (395) 0
Net change in cash, cash equivalents and restricted cash (719) (219) CloseClose
Cash, cash equivalents and restricted cash at beginning of period  3,100 2,944
Cash, cash equivalents and restricted cash at end of period  2,381 2,725
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 2,336 2,657
Restricted cash included in Other current assets 6 1
Restricted cash included in Other non-current assets 39 67
Total cash, cash equivalents and restricted cash $ 2,381 $ 2,725
[1] During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, the related assets and liabilities, including $342 of Cash and cash equivalents and $53 of restricted cash, included in Other current assets and Other non-current assets, were reclassified to Current assets held for sale and Current liabilities held for sale, respectively. Refer to Note 5 for additional information.